File #: 19756    Version: Name: tfr arbitrage calculation 2013 bond issuance
Type: Resolution Status: Passed
File created: 3/1/2018 In control: Finance and Audit Committee
On agenda: 3/5/2018 Final action: 3/12/2018
Title: A RESOLUTION transferring $2,000.00 within the 2018 General Fund to cover the cost of an arbitrage rebate calculation in connection with a 2013 County bond issuance.
Sponsors: Dennis Waits
Indexes: ARBITRATION, GENERAL FUND
Attachments: 1. 19756bu.pdf, 2. 19756c_adopt.pdf, 3. 19756 Arbitrage Rebate Consulting Agreement.pdf
Related files: 5062
Corrected
March 13, 2018
IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI


Title
A RESOLUTION transferring $2,000.00 within the 2018 General Fund to cover the cost of an arbitrage rebate calculation in connection with a 2013 County bond issuance.


Intro
RESOLUTION NO. 19756, March 5, 2018

INTRODUCED BY Dennis Waits, County Legislator

Body
WHEREAS, by Ordinance 5062, dated December 6, 2017, the Legislature did establish certain Reserve Accounts for certain budget lines within the 2018 County budget; and,

WHEREAS, certain funds appropriated in such a Reserve Account within the 2018 General Fund are needed to cover the cost of a required arbitrage rebate calculation in connection with a 2013 County bond issuance; and,

WHEREAS, there are numerous disputes between the County Executive and the Legislature regarding the validity of Ordinance 5062, relating to its construction and interpretation, and multiple related issues; and,

WHEREAS, the Chief Administrative Officer has recommended the adoption of this Resolution, without waiving any previous position taken in reliance upon the memorandum of the County Counselor dated December 22, 2017, regarding Ordinance 5062, and without waiving any position taken in reliance upon other legal memorandums provided by the Office of the County Counselor; and,

WHEREAS, the Legislature recognizes that funds identified as Reserve Funds in the adopted 2018 budget within the General Fund are required to be designated for use for the required arbitrage rebate calculation; and,

WHEREAS, the Chief Administrative Officer has requested that the funds identified in this Resolution be made available for such use by the within the Finance and Purchasing Department within the 2018 budget; and,

WHEREAS the Legislature agrees that funds described in this Resolution should be made available for such use by posting to certain budget line items in the General Fund non-departmental budget or otherwise for calendar year 2018 by t...

Click here for full text